Intelligent Asthma Monitoring Devices Market Worth USD1.69 Billion by 2030 at a CAGR of 25.1%
Global rise in air pollution, increase in population susceptible to indoor air pollutants, growing adherence to smart inhalers, and surge in incidences of asthma cases drive the growth of the global intelligent asthma monitoring devices market. However, misusing data & data privacy and resistance toward adoption of smart inhalers restrain the market to some extent. On the other hand, increased focus toward advanced treatment protocols and significant unmet need in respiratory care present new opportunities in the upcoming years.
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Considerable increase in the incidence of asthma is majorly attributed to rise in allergic reactions toward pollen, dust, and other allergens; increase in geriatric population; and technological advancements in the intelligent asthma monitoring devices notably contribute toward the growth of the global market.
Intelligent asthma monitoring device is used to monitor asthma and prevent asthma attacks & related complications. The growth of the global intelligent asthma monitoring devices market is driven by increase in air pollution. Increase in susceptibility to asthma due to indoor air pollutants and alarming rise in prevalence of COPD & asthma globally are expected to augment the market growth.
Increase in adherence to smart inhalers coupled with transformation from physician-centered to the patient-centered model, rise in collaboration between pharmaceutical companies & smart inhaler manufacturers, and surge in incidence of asthma cases fuel the growth of the market. However, misusing data and data privacy and resistance towards adoption of smart inhalers are expected to restrain the market growth. Conversely, increase in focus toward advanced treatment protocols, unmet needs in respiratory care, and increase in healthcare expenditure in developing countries are expected to provide lucrative opportunities to the market players.
Global Intelligent Asthma Monitoring Devices Market Segmentation
Based on product, the smart inhalers segment held the highest market share in 2020, holding 92% of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 25.6% from 2021 to 2030. The report also includes wearable asthma monitoring devices.
Based on end user, the hospital segment held the largest market share in 2020, holding around more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the homecare segment is projected to register the highest CAGR of 25.9% from 2021 to 2030.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding around two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the Asia-Pacific region is projected to manifest the fastest CAGR of 27.3% during the forecast period.
Leading players of the global intelligent asthma monitoring devices market analyzed in the research include Adherium, Astrazeneca, Cohero Health Inc, Glaxosmithkline PLC, Health Care Originals, Koninklijke Philips N.V, Propeller Health, Teva Pharmaceuticals Industries Ltd., Vectura group Plc., and Volansys Technologies.
Key Benefits for Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis from 2021 to 2031 to identify the prevailing market Opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global trends, key players, market segments, application areas, and market growth strategies.
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